How to Lower Car Insurance Premiums

You hear it all the time, about options to lower your car insurance payment. It is not always about getting a quote from a newer/different insurance company, but a few simple steps and paying attention to detail will help you save a bunch on your car insurance.

Difficulty: Easy

Instructions

Things You'll Need:

• nothing!

1. First for the ground work, get a copy of your driving record. Check for any errors or incorrect data. This is one of the most influencing factors for your insurance rate. So validate it and report errors and get it corrected.

2. Go online or call several insurance companies, provide accurate information and get quotes. This will help you decide if you want to go to a new company or bargain with the existing insurance.

3. If you had some MAJOR changes such as turning 25, or new job, or changes to your commute, like carpool buddy or public transit, notify your insurance company of the change. These "events" help lower your insurance payment.

4. If you added security for your home, or moved your car into a garage, report that to your insurance company and negotiate a lower rate.

5. If you live in an area prone to car breakins or thefts, it is wise to spend money putting in anti theft devices to your car. Then let your insurance company know and it will help negotiate a better rate.

6. Identify all discounts that you can qualify for - good driver discount, internet discount, safe vehicle discount, senior discount, low mileage discount, student discount, auto club/membership discount, etc.

7. When talking to the insurance company, provide your accurate daily driving information. Lower miles per day help lower your insurance.

8. Finally you get good discounts if you combine multiple cars or your home into the same insurance policy. This way you reduce the number of bills to pay and it is all consolidated into one place with better discounts for you.

Tips & Warnings

• The higher your deductible is, the lower your premium will be. If you are a safe driver, this is a good option to choose.
• If you are a college graduate, remember to mention that as you may qualify for an earned student discount.
• If you will not be using one of your car, due to life style change, consider taking it off the insurance for that period. Insurane is usually prorated based on the usage. The savings can be plenty.
• Always remember to keep insurance for your car when you drive though. If you use it without insurance, then there are huge penalties when you try to add it back.
• If you are switching to public transit and the number of miles you drive reduces, then you might become a light driver instead of a moderate to heavy driver, and your insurance policy will consider you low risk and hence lower charges.
• Safety features like ABS, Anti theft devices lower your insurance.
• If feasible, consider eliminating under aged drivers (or drivers with less history). This would result in huge savings.
• Be accurate and truthful when getting insurance.
• Keep your insurance current.